Leasing mineral rights in Dunn county, ND

Kay:

Looking at the August State Auction site, it appears that two areas were leased in Dunn Co. as follows:

T144-R94-Sec. 22 ($2,600.00/acre); T143-R95-Sec. 34 ($6,300.00/acre). Keep in mind, that this is a State Auction and bonus/acre amounts are much higher than what you will recieve but this will give you an idea about the $ amounts in the area. I would negotiate for no less than 20% royalty with a three year lease. If your lease does not expire until another year, there could be a well drilled as these operators tend to be drilling according to the expiration dates, especially in the areas where bonus amounts tend to be higher. Top leasing usually occurs up to 6 mos. out but that's anybody's guess in regards to the time frame. Good luck.